Mattel 2001 Annual Report Download - page 95

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MATTEL, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES EXHIBIT 12.0
AND PREFERRED STOCK DIVIDENDS (Page 2 of 2)
(Amounts in thousands, except ratios)
For The Years Ended December 31, (a)(b)
2001 2000 1999 1998 1997
EARNINGS AVAILABLE FOR FIXED
CHARGES:
Income from continuing operations before income taxes,
cumulative effect of change in accounting principles
and extraordinary item $430,010 $225,424 $170,164 $459,446 $425,082
Less (plus) minority interest and
undistributed income (loss)
of less-than-majority-owned
affiliates, net 170 440 145 (165) (144)
Add:
Interest expense 155,132 152,979 131,609 110,833 90,130
Appropriate portion of rents (c) 14,923 14,748 11,974 16,262 17,665
Earnings available for fixed charges $600,235 $393,591 $313,892 $586,376 $532,733
FIXED CHARGES:
Interest expense $155,132 $152,979 $131,609 $110,833 $90,130
Capitalized interest 6 507 527 993 991
Dividends - Series B preferred stock - - - - 2,537
Dividends - Series C preferred stock - - 3,980 7,960 7,968
Appropriate portion of rents (c) 14,923 14,748 11,974 16,262 17,665
Fixed charges $170,061 $168,234 $148,090 $136,048 $119,291
Ratio of earnings to combined fixed charges and
preferred stock dividends 3.53 X 2.34 X 2.12 X 4.31 X 4.47 X
(a) Although Mattel merged with Learning Company in May 1999, the results of operations of Learning Company have not been included in this calculation
since the Consumer Software segment was reported as a discontinued operation effective March 31, 2000.
(b) The ratio of earnings to combined fixed charges and preferred stock dividends for 1997 has been restated for the effects of the March 1997
merger of Tyco into Mattel, which was accounted for as a pooling of interests.
(c) Portion of rental expenses which is deemed representative of an interest factor, not to exceed one-third of total rental expense.